$4,500 Car Loan

What's the monthly payment on a $4,500 car?
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%
Monthly payment = $82
Total yearly payments = $980
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $78
3.0% $80
4.0% $81
5.0% $83
6.0% $85
7.0% $86
8.0% $88
9.0% $90
10.0% $91
Payments by Amount Down
Down Monthly Payment
$0 $102
$500 $91
$1,000 $79
$1,500 $68
$2,000 $57
$2,500 $45
Payments by Loan Length
Length Payment
24 months $157
36 months $107
48 months $82
60 months $67
72 months $57
84 months $50

Can I afford a $4,500 car?

Is your salary enough to buy a $4,500 vehicle? A general rule of thumb for buying a car or truck is the 20 / 4 / 10 rule.

  • Make a down payment of at least 20% cash. For a $4,500 vehicle, this would mean saving up $900.
  • Pay back the loan in 4 years or less.
  • Don't spend more than 10% of your income on payments and insurance. Rough estimate: your annual income should be at least 2.5 times the purchase price. So to afford a car that costs $4,500, you would need to make at least $11,250 per year.